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By Pejman Yousefzadeh Posted in Economy | Financial Regulation Plans Potentially Run Amok — Comments (0) / Email this page » / Leave a comment »

Note also that few regulatory consolidations have gone well, at least not in their first few years.  Imagine actually forging the SEC and CFTC into a single culture with a single set of norms and regular communication patterns and employment practices.  I'd be surprised if it could be done in less than four years' time and that is usually with some big bumps along the way, all in the service of learning of course.  (Google "Homeland Security.")

--Tyler Cowen in response to the Bush Administration's plans to combine the SEC and the CFTC as part of their financial regulation package. See also this.